Why it Can Be so Hard to Find Good Rare Coin Dealers

Collecting coins is one of the world’s oldest hobbies. If you are interested in a numismatic collection yourself, one of the things you will need to do is find reputable rare coin dealers. And this is where you will find your first difficulty as well.

Why You Need Good Rare Coin Dealers

Dealers are great sources for buying new coins and selling any doubles you may have. They are also a fantastic source of information in terms of verifying the value of the coins you already have. Unfortunately, it is not uncommon for coins to be counterfeit and it takes a very knowledgeable dealer to be able to spot them.

Collecting coins is a very exciting, but also frustrating, hobby, not in the least if you want to complete a set. It is not unheard of for people to spend many years to have a set together. A good coin dealer could help you to find that one missing piece. Again, however, you need to be sure that you’re not dealing with a fake.

You also need a good relationship with a good dealer in case you ever want to sell your coins. You may need a bit of money, or perhaps you have stumbled across a double. It is important to have a dealer who you can trust in that case, so you get maximum value.

A good dealer is a fantastic resource. They share the same passion as you and have a wealth of knowledge about currencies, coins, and their history. They can also explain why certain coins are classed as rare, with the buffalo nickels being a prime example of this. Furthermore, they can tell you how to look after your coins and how to properly store them. So how do you recognize a good dealer from a fraudster, particularly if your own knowledge isn’t fantastic yet?

What to Look for in Good Dealers

They have a lot of experience. Truly good coin dealers are collectors themselves. They have been collecting and researching for many years, probably starting where you are now and working their way up. And yes, this does mean that maybe one day, you will become a dealer yourself. Key is that someone does not become an expert overnight.

Look at their assets. Unfortunately, there are regular counterfeit coins around. If a dealer has been around for a long time, then it is likely that they have never engaged in selling those. Perhaps they even offer certification services, for instance. If they have a lot of coins available and they have also been in business for at least five years, you have a good chance of having found a good dealer.

Ask around. Dealers do not try to monopolize the market. One of the great things about collecting is sharing your collection with others. Hence, other dealers should have heard of the one you are considering as well, and perhaps even worked together with them.